Jun Miyazaki has been appointed Chief Executive of Gartmore Japan in Tokyo, replacing Colin Hodges, who will join Gartmore's alternatives business.

Hodges wil return in early August after five years in Japan to take up a senior position in Gartmore's growing alternative investments business in London.

Jun is a strong appointment for Gartmore having gained over 25 years of investment management and Board level investment banking experience from working within the Japanese Financial Industry in both buy-side and sell-side positions.

Prior to joining Gartmore, he was President and Chief Executive Officer from 2003 at G-One Communication Inc, a private company based in Tokyo. From 2000 to 2002 he was Managing Director, Head of Japanese Equity Product (Sales, Research, Dealing, Sales-Trading) at Credit Suisse First Boston.

He was responsible for managing a team of 150 people following the acquisition by Credit Suisse of Schroder's Japanese securities business, where he was Director and Branch Manager from 1996-2000. During his time at Schroder Securities Japan, Jun was actively involved in turning round a business to one that delivered record profits for the business in 1999 and 2000.

From 1991 to 1995 Jun worked for Smith New Court Securities Japan (Merrill Lynch, Japan) as Director and Branch Manager. In addition, he was a Main Board Director of Smith New Court Plc in 1993. Jun was responsible for increasing Smith New Court's market share from 0.3% to 3% prior to their purchase by Merrill Lynch.

From 1986 to 1991 he was Head of Equity Sales and Deputy Branch Manager for James Capel Securities Japan (HSBC Securities). During this period, James Capel gained the largest market share of the equities market in Japan of the UK and European houses.

Jun joins Gartmore in Japan at a time when the company is enjoying a highly successful period under Colin Hodges' tenure. Having established a presence in Japan in 1984, Gartmore's Japanese business has grown rapidly over the last three years.

Its focus on alternative investments has coincided with a rapid growth in allocations to alternatives by institutional investors in Japan. Gartmore is now recognised as a leading manager and provider of alternative investments to the institutional market in Japan; its hedge fund product range includes equity long short, equity market neutral, Riverview fund of hedge funds, and a managed futures capability through its strategic alliance with Aspect Capital.

Charles Beazley, Head of Institutional and Alternative Investments, comments: "We are delighted that Jun has agreed to join Gartmore. He is our first choice to succeed Colin Hodges, a highly regarded senior Japanese business professional who has been successful in both investment management and capital markets circles.

"Gartmore Japan has developed a premier position under Colin's direction. Indeed, we have been very successful in establishing a position as a leading hedge fund and alternative investments company. I am confident that Jun will be able to build on our achievement as we strive for leadership in the Japanese investment management market place.

"We must thank Colin for his commitment to Gartmore's business in Japan. We look forward to him bringing his business development experience of alternative investments back to Gartmore in London".

Background Note: Gartmore provides a range of investment management services to both retail and institutional clients. These services include equity and fixed income as well as a range of hedge funds, hedge fund of funds and private equity. Gartmore is a part of the Gartmore Group, the international asset management business owned by Nationwide Mutual Insurance Company of Columbus, Ohio. Gartmore Group has assets under management of GBP 41.7billion (USD 76.6 billion) as at 31 March 2004, and its main offices are in London, Tokyo, Philadelphia, Frankfurt, Milan, Madrid, Stockholm and Jersey.